(Los Angeles, CA) In the contemporary music industry, a music publisher, engages with music artists and composers through a publishing contract. Through a publishing contract, a license for the music is established. Whenever someone pays for the license, the music publisher collects the payment. In turn, the music publisher pays the music artist or composer. In the middle, the music publisher charges a commission or fee. The entire time, the music is under a copyright. In other words, the entire process is the contemporary way of doing, independent music. One of the biggest names in the contemporary independent music industry, is Big Machine Label Group. Recently, Ithaca Holdings, LLC announced that, it has complete knowledge of the contemporary way of doing independent music. Specifically, the aforementioned business revealed that, it has acquired Big Machine Label Group. The acquisition ultimately makes Ithaca Holdings, LLC a giant record label, talent management business, streaming business, a music publisher and contemporary media company.
The contemporary media company, music publisher, streaming business, talent management business and record label; Ithaca Holdings, LLC regrettably did not reveal the acquisition cost. What was revealed is that post-acquisition, Big Machine Label Group will continue normal business operations out of Nashville, Tennessee U.S.A. Additionally, Scott Borchetta will remain the President and the Chief Executive Officer. However and returning to, Big Machine Label Group. The aforementioned business is made up of Big Machine Records, The Valory Music Co., Big Machine Label Group Records, Big Machine/John Varvatos Records, Big Machine Music and Big Machine Radio. Furthermore, current popular music artists include the following big names. The music artists are Florida Georgia Line, Thomas Rhett, Reba McEntire, Rascal Flatts, Brantley Gilbert, Lady Antebellum, Cheap Trick, Jennifer Nettles, Justin Moore, Eli Young Band, Brett Young, Midland, Carly Pearce, Riley Green, Aaron Lewis, Badflower and Danielle Bradbery.
Returning to, the acquisition of Big Machine Label Group, the aforementioned does have an acquisition cost. However, regrettably and as previously said; the acquisition cost was not revealed. Fortunately what was revealed; is the abstract plan to combine complimentary services, artists, business executives and expertise. Obviously, the previously said is the abstract plan. Additionally; Big Machine Label Group’s client roster, distribution deals, publishing business and artist-owned masters now belong to Ithaca Holdings, LLC. In return, for everything that was previously mentioned, Scott Borchetta, will acquire a minority percentage in Ithaca Holdings, LLC.
Scott Borchetta is the President and the Chief Executive Officer of Big Machine Label Group. Through a press statement, Mr. Borchetta said the following. “Scooter and I have been aligned with ‘big vision brings big results’ from the very first time we met in 2010. Since then I have watched him build an incredible and diverse company that is a perfect complement to the Big Machine Label Group. Our artist-first spirit and combined roster of talent, executives, and assets is now a global force to be reckoned with. This is a very special day and the beginning of what is sure to be a fantastic partnership and historic run.”
To end, Ithaca Holdings, LLC is an integrated holding company. The business interests include the following sectors of the economy; music, technology, film, television, brands and culture. Additionally, SB Projects is a business entity that owns, Ithaca Holdings, LLC. Specifically and in reference to brands and culture; SB Projects manages Justin Bieber, Ariana Grande, Karlie Kloss, Zac Brown Band, Dan + Shay, Demi Lovato, Tori Kelly and J. Balvin. Ithaca Holdings, LLC did release a press statement. Scooter Braun is the Founder of SB Projects. Through a press statement, Mr. Braun said the following. “The idea of Scott and I working together is nothing new, we’ve been talking about it since the beginning of our friendship. I reached out to him when I saw an opportunity and, after many conversations, realized our visions were aligned. He’s built a brilliant company full of iconic songs and artists. Who wouldn’t want to be a part of that? By joining together, we will create more opportunities for artists than ever before, by giving them the support and tools to go after whatever dreams they wish to pursue.” As previously stated, Ithaca Holdings, LLC recently announced that, it has complete knowledge of the contemporary way of doing independent music. Specifically, the aforementioned business revealed that, it has acquired Big Machine Label Group. Lastly; the acquisition ultimately makes Ithaca Holdings, LLC a giant record label, talent management business, streaming business, a music publisher and contemporary media company.
###
Written from Press Release
Registered Writer with
PR Newswire Association, LLC
R-Berumen28
07/10/2019
Left: Scott Borchetta, Right: Scooter Braun
Post a Comment